Hengqin, Pingtan, Qianhai firms get preferential tax, paper says

Firms that meet policy requirements and operate in the Pingtan Comprehensive Pilot Zone in Fujian, the Hengqin New Zone in Zhuhai and Shenzhen’s Qianhai new area can enjoy preferential corporate tax rate as low as 15 percent, 21st Century Business Herald reported Friday, citing a document jointly issued by the Ministry of Finance and the State Administration of Taxation. The policy, which took effect from January 1 this year, will be in effect until the end of 2020. According to the catalogues of preferential industries for the Pingtan and Hengqin zones, most of qualified firms are in sectors of new high-tech, drug making and environmental protection but none in finance. It is likely to be the same case for the upcoming catalogue for Qianhai, the report said.

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